Value assessment is the comparison of the relative benefits to the costs of a given technology or service for a specific person or population.
One significant ongoing challenge in healthcare today is the measurement of value. Most healthcare providers, payers, and patients would agree the cost of medication, treatment, or medical service should reflect the value it delivers. And yet, consensus does not yet exist about the component perspectives, methods, and data that should be used to define value. This status quo demands better answers to the questions, “How do you measure value? And for whom?”